so when you tax a dividend, you're double taxing it. it's already been taxed once. >> right. so by that logic, let's get rid of all taxes on dividends so wealthy heirs basically pay no taxes. >> pension funds would be better off. everybody would be better off. >> look, one of the problems with these, you got to keep in mind, dividend tax rates right now are at a historically low level. they were much higher in the 1990s during that bull market. they were higher in the 1980s. >> not relevant to my point i was making. >> you're talking about completely different economic conditions as well. you're talking about a country that's scraping the bottom, coming from a recession, where any level of contraction is going to be damaging. >> jeff, we have to cut you off. bob is waiting. you know how he gets. guys, good discussion. thank you. >> all right. we started 100 points down. we finished 100 points up. bob, it's a fiscal cliff soap opeon on the -- opera on the street. >> we dropped about 10:00. we had disappointing october new home sales. that was one little disappointing piece of